American Superconductor (NASDAQ:AMSC) Updates Q3 2024 Earnings Guidance

American Superconductor (NASDAQ:AMSC) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.050- for the period, compared to the consensus estimate of 0.070. The company issued revenue guidance of $55.0 million-$60.0 million, compared to the consensus revenue estimate of $56.0 million. American Superconductor also updated its Q3 guidance to $0.05 EPS.

American Superconductor Trading Up 16.4 %

NASDAQ:AMSC traded up $4.02 during trading hours on Friday, hitting $28.54. The company’s stock had a trading volume of 2,745,563 shares, compared to its average volume of 997,881. American Superconductor has a 52-week low of $6.73 and a 52-week high of $32.70. The stock has a market capitalization of $1.13 billion, a P/E ratio of -570.69 and a beta of 2.14. The stock has a fifty day moving average of $22.39 and a 200-day moving average of $21.04.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. American Superconductor had a positive return on equity of 9.38% and a negative net margin of 0.49%. The business had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. On average, sell-side analysts forecast that American Superconductor will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMSC shares. Craig Hallum reissued a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm reiterated a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.